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mortgage advice please
caveman118
Posts: 9 Forumite
Hi, i inherited a couple of houses along with my brother a few years back. We're selling them next year so hopefully i will have £120k ish in my bank. Im looking to buy my first house with the money. Im on a rubbish salary, about 10.5k. does anyone have any idea what morgage ill be able to get, takng into account the the £120k i will be putting in
cheers
cheers
0
Comments
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Will vary but around 4xsalary would be achievable.0
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Will vary but around 4xsalary would be achievable.
Yes, should be do able. Some lenders work on tiers with income though.
For example, they might do 3 times up to £10k, 3.5 times £10k to £20k, 4 times £20k plus.
it's a bit of a minefield, but a big depsit like that will help enormouslyI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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